Party planning is a multi-faceted undertaking that holds the potential to turn a profit. Throwing a great party takes a great deal of consideration and decision making. So, in order to make a profit through your event, you must organize it in your favor so that night is a complete success. This will entail getting creative and making sure your party is an interactive event for your guests to enjoy. The bigger the turn out – the bigger the profit. The key is to throw your party fearlessly by going above and beyond for your guests. There are many ways to amp up your event. Take into consideration the type of party you are planning when constructing its technical aspects. Your entertainment should always match your venue and the energy of your event. If you want to make a profit, provide your guests an experience they will never forget and you can be sure that they will spend money living it up at your party without even realizing it. Everybody wins!
Admission Fees
Charging your guests an admission fee will generate an ample flux of income at your party while maintaining control over your which guests are in attendance. You can consider hiring security to collect admission fees for extra coverage. Keeping a list of who is allowed in and who has paid their admission fee also adds an element of organization. At the same time, it ensures that nobody gets in without permission. Create a guest list and have whoever is monitoring check in to allow your guests in accordingly. Keeping everything on paper helps to calculate your total profit at the end of the event. There are many benefits to admission fees. Just be sure to let your guests know that there will be one before the time of the event and exactly how much they will be paying at the door upon arrival. You can never go wrong with adding an admission fee. Again, be sure that the cost of admission is appropriately in accordance with the venue and theme of your party. You will want your guests to get exactly what they pay for.
Consider a Raffle
Every guest at your party will be intrigued by the concept of winning a prize. Who wouldn’t be? Setting up the prize on a table at your party where everyone can see it will catch the eye of everyone in the room. Depending on your crowd, this prize can vary. You can provide an ample materialistic prize such as an electronic. You can put together a basket comprised with numerous items that pertain to your party. You can even auction off wine bottles, liquor or a cooler full of flavored beers to sample. If you have the means, you can auction off vacation or event tickets. Who wouldn’t want to win a weekend trip away? Depending on your turn out of guests, you can make back the money you spend on your prize and then some. Don’t limit your event to one prize- add in some runner up takeaway gifts as well. If you can prepare your list of RSVPs ahead of time and are aware of how many guests will be in attendance of your party, you can gage how much you should spend on your prize. If your guest list is on the smaller side, a simple gift basket will do just the trick. But if you have hundreds who have RSVPed, perhaps you would consider a bigger giveaway that may require a bigger give and take. This will all come down to your budget and your preference. The most important thing to remember is to plan your prize budget around your head count. The type of party you are hosting matters as well. If it is a work event, your giveaway prize may be something office related like office supplies. If you are inviting some networking connections and prospective business clients, you can include business related prizes such as office supplies. You always want to come out with more than you went in with. Be realistic about your goals and your budget will allow you to make a profit while your guests get to go home with something exciting.
Let Your Guests Be the DJ
Though you may have to stretch your dollar to hire a DJ for your party, there is a very simple way to make your spending worth it in the long run. Guests love to personalize their experience at a party. Giving them the liberty to choose what songs will be played and when allows them the opportunity to customize their entertainment. Charge your guests one dollar for every song they request from the DJ. Set a jar out near the speakers or simply have somebody stand by to organize the exchanges if you would like the transaction to be more highly monitored. Charging your guests one dollar per song will not break their bank but- make no mistake- the dollars add up as the night goes on as your guests continue to make requests. Start the night by making an announcement of the service and request a song of your own. Once your guests begin paying for songs, the rest of the crowd will certainly follow. One dollar here and one dollar there turns into a large sum at the end of your event. You can make a profit at a very low cost for your fellow music lovers while providing them the chance to jam out to their favorite songs. They will not even feel like they are spending money. More likely than not, they will consider your option to request songs a highlight of your party!
Hold a Tournament or Competition
Holding a competition at your party is a great way to make a profit while adding numerous fun activities. You can determine which type of tournament or game you will incorporate by the type of party you are hosting. This can be anything from brain games to actual physical activities. Challenging your guests to compete against each other and charging per entry is a smart way to collect profit while simultaneously adding a cool spin on your party. Everyone has a competitive side so the element of friendly competition encourages your guests to socialize with each other. The space of your venue will determine the room you have to set up an area for your games. If you have a large section that you can dedicate to physical fun, your options expand. Outdoor games may be best but you can downsize for indoor activities as well. Some outdoor games can include horse shoes, bean bag tosses or even scavenger hunts. Interactive games that require teams and mental energy would include Pictionary, charades or bingo. You can set up mock Jeopardy or Wheel of Fortune displays and have your guests take turns being the host that keeps score. The possibilities are endless. Just make sure your games match your theme. At just three dollars per entry fee, your earnings can really stack up throughout your party. If you invite 200 guests and have a successful turnout, you can make 600 dollars from the competition alone. The best part is that a few dollars per person is not a lot to ask but the end result is great because of the higher volume of guests. (Another reason to go big when sending out your invites!)
Money You Save Is Money You Make
Yes, money saved is money made. Ask your guests to contribute to your party’s necessities to avoid paying for everything yourself. You can ask each guest to sign up to bring a different item with them to your party. Drinks, snacks, decorations, etc. can all be provided by guests if you ask far enough in advance. Hire small businesses for entertainment and maintenance. You may even form connections while you are at it. Think hard as to how to downsize your budget without losing the quality of your party. Though you may not be making a profit directly this way, you are saving loads of money that would have otherwise been spent on developing your event. The little details matter when it comes to planning your party. Though each item may not cost very much, the combination of it all tends to add up. If each guest pitches in, you can turn a profit simply by doing less of the work. This may even allow you to enjoy your party a little bit more thoroughly. The less you have to worry about the minor details, the more you can focus on the main objectives of your party.
Consider Your Guest List
Making a profit from your party is completely tangible as long as you are willing to think outside of the box. Call on your creativity and think of your guests along the way as you plan the itinerary of the party. Be sure that your ideas align with the theme of your event so that your guests have a great experience. You can ask your guests for suggestions as to what activities they would like you to incorporate into the party. After all, they will be the ones who get to experience the benefits of whatever you choose. Consider factors like the age and possible personal interests of your guests. If your party will have minors attending, you may want to leave the games involving alcohol out. But if all of yours guests will be over the age of 21, you may consider exploring taste testing or wine sampling stations- drinking responsibly, of course. Ask around to your guests as to what games they would enjoy. If you are inviting people you know from work or places you frequent, you can even pass around an idea jar and ask your guests to submit fun ideas on a piece of paper ahead of time. Again, get creative! After all, your guests will be the ones who determine the outcome of your event so taking them into consideration during your planning will provide the best results.
Making a profit from throwing large events is a skill that anyone can master with the right amount of effort. It is the idea of combining activities that you and your entire party will have a great time doing with profitable strategies. You can choose to make your profit from one large source or you can separate your profit into smaller increments. For example, one big raffle can turn a profit if you charge guests a larger sum of money to partake and set your prize at a bit higher of a budget. But if you’d like to give your guests the option of partaking in numerous activities, charge smaller amounts for each activity and it will surely add up. Whichever way you choose to make your profit, don’t forget to have a great time and enjoy your party. Be mindful when planning your event because saving when it comes to an event is key. Your main goal should be providing your guests with a cost friendly experience while making a profit through subtle and savvy methods. Be wise about your money and conscious of your guest’s overall experience. You can have it all when planning an event to remember. Remember to plan ahead and allot yourself the time get all of your affairs in order in advance. This allows you to truly enjoy the experience of your party along with your guests. When the financial aspects of a party are squared away early on, you will run into far less trouble at the time of your event. First and foremost, enjoy the activities your party offers just as much as your guests do! And be sure to keep accurate record of the income being made as the event goes on. You will want to know exactly how much all of your hard work brought in. If you follow all the proper steps in order to obtain an organized party that turns a profit, you will end up a happy and prosperous party host!